Elon Musk speaks at the G20 meeting about his predictions for AI. Got a confidential news tip? We want to hear from you. Sign up for free newsletters and get more CNBC delivered to your inbox Get this delivered to your inbox,

Elon Musk forecasts AI could add $30 trillion annually to the global economy but warns of an imminent electricity shortage that may hinder AI's growth, urging countries to expand power generation.

Elon Musk has predicted there will be at least one billion humanoid robots within the next decade that will be more productive than “all humans combined”.

Elon Musk told G20 leaders that AI and robotics will add up to $30 trillion a year to the global economy, naming a specific deadline. The supply chain constraints binding even NVIDIA suggest the math only works if you ignore how long industrial revolutions actually take.

Speaking virtually at a G20 event in North Carolina, Tesla (NASDAQ:TSLA | TSLA Price Prediction) and SpaceX CEO Elon Musk offered what he called a rough estimate of AI’s economic upside. “I think AI will probably increase the global economy by 20% to 30%.

Elon Musk, Sam Altman and Jensen Huang will join a G20 tech meeting focused on AI regulation and emerging technologies.

Elon Musk criticized government regulation of new technology as hindering innovation and called for a framework that "makes things default legal, not default illegal," during his remarks at the G20 Innovation Ministerial in Chapel Hill,

Follow Day 2 of the G20 Innovation Ministerial in Chapel Hill, North Carolina, with Jensen Huang, Sam Altman, and ministers discussing AI, policy and trade.

Tech bosses including Elon Musk, Nvidia's Jensen Huang and OpenAI's Sam Altman are participating in a G20 meeting in North Carolina this week amid a global debate on how governments should address